Inflation falls to 31-month low
Filed under: News
The consumer price index (CPI) rate of inflation fell to a lower-than-expected 2.4% in June, from 2.8% in May, the Office for National Statistics (ONS) said. City analysts had forecast the rate to drop to 2.7%.
Inflation has fallen from 5.2% last September due to the waning impact of the VAT hike at the start of 2011, falling energy, food and commodity prices, and a number of bill cuts from utility providers.
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